Wipro revenue jumps 18% to $2.7 bn in June-quarter

India’s Wipro said its revenue from operations rose nearly 18 percent to 215.29 billion rupees during June-quarter.
Wipro job in IndiaWipro reported a near 21 percent fall in June-quarter profit on Wednesday as higher employee-related costs pushed up the information technology services firm’s overall expenses.

June-quarter consolidated net profit came in at 25.64 billion rupees ($320.54 million), compared with 32.43 billion rupees year ago.

Wipro’s gross revenue was $2.7 billion, an increase of 17.9 percent, for the quarter ended June 30, 2022.

IT Services segment revenue was $2.735.5 billion, an increase of 13.3 percent.

Net income for the quarter was $324.4 million.

Wipro said the number of employees for IT Services was 258,574, an increase of 15,446 QoQ.

“We made significant investments in Wipro’s growth engine. Our order bookings grew 32 percent in Total Contract Value terms, powered by large transformational deals, and our pipeline today is at an all-time high,” Wipro CEO Thierry Delaporte said.

Wipro CFO Jatin Dalal said: “We are consistently investing in solutions and capabilities for our growth to further strengthen our position of being a strategic partner for our clients. At 15 percent of operating margins, we believe that we have bottomed out.”

Wipro said it expects revenue from our IT Services business to be in the range of $2.817 billion to $2.872 billion, translating to a sequential growth of 3 percent to 5 percent, for the quarter ending September 30, 2022.